Business Owners Policy

What is business owner's policy (BOP) insurance?

A business owner’s policy (BOP) combines property and liability insurance by packaging these coverages into a single insurance policy. This type of packaged business insurance is often a good choice for small businesses and medium-sized businesses, such as restaurants or retail shops.

What does BOP insurance cover?

The 2 main coverages provided in a BOP are liability and property coverages. Some examples are:

  • Bodily injury or property damage liability (e.g., you spill water on a client’s computer causing damage)
  • Defense costs for covered liability losses (e.g., libel and slander)
  • Protection for business furniture and equipment (e.g., chairs, desks, and computers)

Who needs a business owner's policy?

The following businesses frequently purchase business owner’s policy (BOP) insurance:

  • Salons or Barber/Beautician
  • Offices
  • Professional consultants
  • Consumer services
  • Apartment buildings
  • Restaurants
  • Technology consultants and solution providers
  • Florist
  • Retail stores